Skip to main content

Fidelity Digital Assets will support Bitcoin and Ethereum for retail clients

 


  • Fidelity Digital Assets will support Ethereum in the near future.
  • The company also wants to offer its trading services to retail clients.

Christine Sandler, the Head of Sales and Marketing at Fidelity Digital Assets, has said that the investment company would someday look to serve retail customers too. 

Christine made this announcement in an interview talking to Laura Shin for the Unchained podcast.

She said that the company is constantly looking at the retail sector to see how the company could make an inroad into the market. The investment company which mostly offers its Bitcoin investment plan to corporate institutions believes that by serving retail clients, the firm can improve its crypto service offering too.

Fidelity might soon support Ethereum

In the interview, Sandler made it known that the firm is also looking at supporting other cryptocurrencies apart from Bitcoin. According to her, the firm has to look to expand trading opportunities for their customer base. Fidelity also disclosed that the crypto firm has to look at the possibility of staking new digital assets. In her words, a digital asset custodian like theirs that offers proof of stake assets would need to also offer staking services:

I think to be a digital asset custodian, and offering proof of stake assets, you definitely have to offer staking services. It puts you at a disadvantage, so I would expect us to build up those services once we can support Ethereum.

She believes that offering such services would put the firm at an advantage with their customers. She also noted that the firm would have to build up its system to be able to support the feature. This would be done before the firm starts supporting Ethereum on its platform.

Ethereum is the second most popular crypto asset in the market. The growing interest in the crypto space has led to it garnering more attention by other crypto investors. ETH also gained a wide popularity because Decentralized Finance (DeFi) tokens are mostly built on it. The DeFi industry witnessed a massive surge this year as more investors were staking on different tokens on the ecosystem.

Investment firms are still focused on Bitcoin

Christine noted that large corporate investors in the crypto industry are still focused majorly on the leading crypto asset in the market, Bitcoin. While there have been inquiries about Ethereum and other crypto assets, the focus of institutions has not yet wavered away from BTC:

Of course. Inevitable. We think about it all of the time, and we do get, look, and we do obviously, get a lot of inbound interest from retail clients. And as we said before though, for us to be a really great institutional provider, we have to remain focused on this institutional client and not to take away from that focus…

As Crypto News Flash already reported, institutional investors like PayPal are buying a huge amount of new Bitcoin that are mined. 

This can lead to a further rising price of BTC in the long term.




Source: crypto-news-flash.com

Comments

Post a Comment

Contact us

Name

Email *

Message *

Popular posts from this blog

Cryptocurrencies Adding to the Safety and Security in the UK Gambling Industry

These are exciting times for the UK gambling industry. The impact of internet technology is now being felt with online gambling now controlling the industry.  The adoption of cutting-edge technology is reasonable for the boom in the industry. From live casinos, mobile apps to artificial intelligence, incredible trends continue shaping the gambling industry. However, it is the rise of cryptocurrency casinos that seeks to redefine UK gambling.  Many operators now include crypto coins such as bitcoin, Ethereum and Litecoin as part of their banking methods. Others offer exclusive bitcoin payments and promotions based on digital tokens. This revolutionary trend has a huge impact due to enhanced safety and security on these platforms. Players looking for peace of mind when playing online now opt to use cryptocurrencies. This post looks at how cryptos guarantee the safety and security of players at online casinos. How Cryptocurrency Gambling Works There’s a lot of talk ab...
Post a Comment
Read more

Coinbase to Require Recipient Information for Crypto Transfers From Users in Canada, Singapore and Japan

  Customers in those countries who send crypto outside their Coinbase accounts must provide recipients’ names, addresses and in some cases, additional information, as of early April. Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and in the case of Japan, the destination wallet of the recipient. Coinbase has been sending notices to its customers in those countries that the changes will take effect in early April in order to comply with local travel rules in those places. Coinbase didn't immediately respond to requests for additional comment on the moves, but confirmed that they were taking place. The move  does not seem to be going over well  with Coinbase customers in those countries, who value the anonymity of transactions using cryptocurrency. According to a  FAQ provided by Coinbase , for Canadian users, ...
Post a Comment
Read more

Farm GRASS earn MONEY

  Use your Unused Internet Bandwidth to make $$$ In today’s interconnected world, the concept of passive income has taken on new dimensions, offering innovative ways for individuals to monetize underutilized assets.  One such groundbreaking avenue involves earning money by selling your unused internet connection.  By participating in decentralized networks like Grass, individuals have the opportunity to turn their dormant bandwidth into a valuable asset, contributing to a fairer and more equitable digital landscape while generating income. Grass is a decentralized network sharing application designed to offer an alternative to existing centralized networks.  It allows users to sell their unused bandwidth directly, without the need for exploitative middlemen.  The platform operates by enabling users to download a web extension that runs in the background, assisting others in accessing public web data in exchange for payment using the protocol’s native token. How ...
Post a Comment
Read more